Healthcare


Growth Insights for the Direct-to-Consumer Genetic Testing Market, Forecast to 2022

Consumer Education and Exploring Alternative Markets Would Drive the Direct-to-Consumer Genetic Testing Market
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Published: 27 Aug 2018

As healthcare evolves toward personalized solutions, everyday consumers are proactively taking responsibility for their health in ways unimaginable a decade ago. A direct-to-consumer genetic test (DTCGT) exemplifies this trend which can be purchased and used directly by consumers without the requirement of a prescription from a healthcare provider. The tests can be purchased online from distribution channels such as DTCGT company websites, e-commerce channels, and online pharmacies. Challenges faced by the industry include unclear regulations, lack of standard guidelines, low test margins, concerns related to scientific validity and consumer data privacy. However, drivers such as increased consumer awareness, approval of health risk genetic tests in the United States, development of significantly modified tests with robust scientific validation and data monetization collaborations with stakeholders such as pharmaceutical companies have provided a strong impetus to the growth of the DTCGT market. With the synergistic effect of advanced technologies such as Artificial Intelligence, Big Data Analytics, and Blockchain on the traditional genetic testing market, along with the adoption of novel distribution models, the market growth is anticipated to increase dramatically in the next five years.

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